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Kenneth Andrade's Old Bridge Capital says Shapoorji Pallonji hid info in Sterlin and Wilson Solar IPO

Updated : January 24, 2020 11:29 AM IST

In its complaint to Sebi, Old Bridge Capital also alleges SWSL's board of “misuse of powers” in granting extension of time to promoters for repayment of loan out of proceeds for Offer for Sale.
Old Bridge Capital Management said the amount of Rs 2,850 crore received from proceeds of sale should not have been used for any other purpose.
Promoters Shapoorji Palonji Company and Khurshed Daruwala have only paid Rs 1,000 crore as of December 31, 2019, which is 133 days after listing.
Kenneth Andrade's Old Bridge Capital says Shapoorji Pallonji hid info in Sterlin and Wilson Solar IPO

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